German automaker BMW said today that it has canceled a €2 billion ($2.15 billion) order for EV battery cells with Northvolt.
German media Handelsblatt and manager magazin reported that the Swedish lithium-ion battery maker couldn’t deliver on time on a long-term supply contract for battery cells agreed with BMW in 2020.
A BMW spokesperson said today, “Northvolt and the BMW Group have jointly decided to focus Northvolt’s activities on the goal of developing next-generation battery cells. The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe.”
Read Article